Business
2019 Guidance Outlook
2019 Guidance Outlook.
About this update from Jadestone Energy Plc
[{"type":"text","content":"\n \nRNS Number : 9548R Jadestone Energy Inc. 06 March 2019 \n\nJadestone Energy Inc.\n \nJadestone Energy 2019 Guidance Outlook\nMarch 6, 2019-Singapore: Jadestone Energy Inc. (AIM:JSE, TSXV:JSE) (\"Jadestone\" or the \"Company\"), an independent oil and gas production company focused on the Asia Pacific region, is pleased to provide guidance for 2019. The Company has posted an updated corporate presentation to its website www.jadestone-energy.com/presentations.\n2019 Outlook\n· Average crude oil production expected to be between 13,500-15,500 bbls/d\n· Average production for February 2019 of 15,369 bbls/d following some flush production from Montara restart and continued natural flow from wells Skua-11 and Swift-2\n· Average unit production costs of US$21-24/bbl\n· Capital and other major offshore spending of US$116-131mm\n· Regulatory acceptance of Jadestone's safety case for the Montara asset and change of operatorship expected in Q2 2019\n· Infill wells on both Stag and Montara in Australia, as well as a riserless light well intervention campaign at Montara\n· Development sanction for the Nam Du and U Minh fields in Vietnam\n· Over 5,500 bbls/d of 2019 production covered by swaps at an average price of approximately US$72/bbl\nPaul Blakeley, President and CEO commented:\n\"Jadestone is a dramatically different company compared to this time last year. Following our acquisition of the Montara asset, offshore Australia, we have tripled production, all of it high quality premium-priced oil from offshore Australia, and are making good progress on a significant development project in Vietnam, which we expect to sanction this year. \n\"At the same time, we have changed the character of the Company's finances, such that we are well-positioned to deploy significant cash generated from operations to pursuing attractive reinvestment opportunities, while comfortably servicing our debt obligations and further strengthening our balance sheet.\n\"As we increase our influence and control over the Montara asset, in preparation for taking over operatorship, we are identifying more opportunit...